Can I retire at age 59 with 688,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$56,814$56,308$55,815$55,333$54,862$54,402
2 years$28,126$27,602$27,094$26,602$26,125$25,662
3 years$18,564$18,038$17,532$17,044$16,575$16,122
4 years$13,785$13,260$12,759$12,279$11,821$11,383
5 years$10,917$10,396$9,901$9,432$8,986$8,563
6 years$9,007$8,489$8,002$7,543$7,111$6,704
7 years$7,642$7,129$6,649$6,201$5,783$5,392
8 years$6,619$6,111$5,639$5,202$4,797$4,423
9 years$5,824$5,321$4,857$4,431$4,040$3,682
10 years$5,189$4,690$4,235$3,820$3,442$3,100
11 years$4,669$4,175$3,728$3,324$2,961$2,634
12 years$4,236$3,747$3,309$2,916$2,566$2,254
13 years$3,870$3,387$2,956$2,574$2,237$1,941
14 years$3,557$3,078$2,656$2,285$1,961$1,679
15 years$3,285$2,812$2,398$2,038$1,727$1,459
16 years$3,048$2,580$2,174$1,825$1,526$1,272
17 years$2,839$2,376$1,978$1,639$1,353$1,113
18 years$2,653$2,196$1,806$1,477$1,203$976
19 years$2,487$2,035$1,653$1,335$1,072$858
20 years$2,338$1,891$1,517$1,209$958$755
21 years$2,204$1,761$1,396$1,097$857$666
22 years$2,081$1,644$1,286$998$768$588
23 years$1,970$1,538$1,188$909$690$520
24 years$1,868$1,441$1,098$829$620$460
25 years$1,774$1,352$1,017$757$558$408
26 years$1,687$1,271$944$692$502$362
27 years$1,607$1,196$876$633$453$321
28 years$1,533$1,127$814$580$409$285
29 years$1,465$1,063$758$532$369$254
30 years$1,400$1,004$706$488$334$225
31 years$1,341$949$658$449$302$201
32 years$1,285$898$614$412$273$178
33 years$1,232$850$573$379$247$159
34 years$1,183$806$536$349$223$141
35 years$1,136$765$501$321$202$126
36 years$1,093$726$469$296$183$112
37 years$1,051$689$439$272$166$100
38 years$1,012$655$411$251$151$89
39 years$976$623$385$232$137$80
40 years$941$593$361$214$124$71
41 years$907$564$338$197$112$63
42 years$876$537$317$182$102$56
43 years$846$512$298$168$93$50
44 years$817$488$279$155$84$45
45 years$790$465$262$143$76$40
46 years$764$444$246$132$69$36
47 years$740$424$232$122$63$32
48 years$716$404$218$113$57$28
49 years$693$386$204$104$52$25
50 years$672$369$192$96$47$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $688,000, adding $2,021 every year, while hoping to spend $20,450 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 58/34/8 Blend
58$688,000$688,000$688,000$688,000
59$760,261$723,797$713,133$802,876
60$816,049$737,504$715,264$845,470
61$876,842$751,198$716,781$889,390
62$943,128$764,855$717,642$936,755
63$1,015,447$778,453$717,803$987,899
64$1,094,390$791,965$717,217$1,043,186
65$1,180,610$805,363$715,835$1,103,019
66$1,274,823$818,616$713,607$1,167,842
67$1,377,821$831,694$710,479$1,238,144
68$1,490,472$844,561$706,394$1,314,465
69$1,613,736$857,181$701,293$1,397,399
70$1,748,667$869,512$695,116$1,487,599
71$1,896,426$881,513$687,798$1,585,789
72$2,058,292$893,138$679,270$1,692,765
73$2,235,674$904,338$669,462$1,809,402
74$2,430,124$915,061$658,299$1,936,669
75$2,643,349$925,252$645,705$2,075,630
76$2,877,232$934,851$631,597$2,227,461
77$3,133,845$943,794$615,891$2,393,457
78$3,415,471$952,014$598,498$2,575,047
79$3,724,626$959,439$579,324$2,773,803
80$4,064,078$965,992$558,272$2,991,461
81$4,436,881$971,592$535,241$3,229,935
82$4,846,394$976,152$510,123$3,491,332
83$5,296,322$979,580$482,808$3,777,979
84$5,790,744$981,776$453,179$4,092,437
85$6,334,155$982,637$421,115$4,437,532
86$6,931,504$982,053$386,488$4,816,380
87$7,588,249$979,904$349,167$5,232,413
88$8,310,398$976,067$309,011$5,689,417
89$9,104,572$970,408$265,877$6,191,566
90$9,978,068$962,787$219,613$6,743,458
91$10,938,922$953,055$170,062$7,350,166
92$11,995,991$941,054$117,058$8,017,280
93$13,159,032$926,615$60,429$8,750,963
94$14,438,795$909,562$0$9,558,007
95$15,847,127$889,705$0$10,445,903
96$17,397,080$866,846$0$11,428,409
97$19,103,034$840,774$0$12,509,479
98$20,980,837$811,265$0$13,699,162
99$23,047,948$778,082$0$15,008,532
100$25,323,607$740,977$0$16,449,799